Cresco Labs Inc. (OTCMKTS:CRLBF – Get Free Report) saw a significant growth in short interest in August. As of August 31st, there was short interest totalling 1,447,200 shares, a growth of 15.4% from the August 15th total of 1,254,400 shares. Based on an average daily trading volume, of 1,565,500 shares, the days-to-cover ratio is currently 0.9 days.
Cresco Labs Price Performance
CRLBF stock traded down $0.04 during mid-day trading on Monday, hitting $2.42. The stock had a trading volume of 1,968,389 shares, compared to its average volume of 697,018. The firm has a fifty day simple moving average of $1.62 and a 200 day simple moving average of $1.62. The firm has a market capitalization of $837.78 million, a P/E ratio of -3.16 and a beta of 2.52. The company has a current ratio of 1.12, a quick ratio of 0.61 and a debt-to-equity ratio of 1.14. Cresco Labs has a 52 week low of $1.00 and a 52 week high of $4.20.
Cresco Labs (OTCMKTS:CRLBF – Get Free Report) last announced its quarterly earnings data on Wednesday, August 16th. The company reported ($0.05) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.03) by ($0.02). Cresco Labs had a negative net margin of 29.14% and a negative return on equity of 9.52%. The firm had revenue of $197.89 million during the quarter, compared to the consensus estimate of $194.60 million. As a group, research analysts forecast that Cresco Labs will post -0.21 EPS for the current year.
Wall Street Analyst Weigh In
About Cresco Labs
Cresco Labs Inc, together with its subsidiaries, cultivates, manufactures, and sells retail and medical cannabis products in the United States. It provides cannabis in flowers, vape pens, live resins, disposable pens, and extracts under the Cresco brand; vape carts, vape pens, flower, popcorn, shake, pre-rolls, shorties, and concentrates under the High Supply brand; vapes and gummies under the Good News brand; vapes and edibles under the Wonder Wellness Co brand; and tinctures, capsules, salves, and sublingual oils under the Remedi brand.
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